Question

Mike accidentally wrote a check for more than the balance in his checking account. The bank transferred money from his savings account to his checking account to cover the check. This banking service is _____.

Answer 1

Answer: The correct answer is overdraft protection.

Explanation: The service that a bank offers when they transfer money from the savings account to a checking account to cover an overdraft is called overdraft protection. Some banks may charge for this service, but others do it for free.

Answer 2

Transfer. His back transfers money from one account to another.